Eddie and Camilla received $11,600 for the rental of their rental house in Irvine, California. Eddie and Camilla do not use this property for personal use. The rent covers six months from October 1 of the current year to March 31 of next year. The amount also includes a security deposit of $2,000. How much should Eddie and Camilla report as rental income in the current tax year?
A. $9,600.
B. $2,000.
C. $11,600.
D. $13,600.
Answer: A
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Indicate whether the statement is true or false
Potter Corporation owns 60 percent of Snape Company's voting shares. On January 1, 20X4, Snape sold bonds with a par value of $400,000 when the market rate was 6 percent. Potter purchased one-third of the bonds; the remainder was sold to nonaffiliates. The bonds mature in 15 years and pay an annual interest rate of 5 percent. Interest is paid semiannually on June 30 and December 31.Based on the information given above, what amount of interest expense should be reported in the 20X5 consolidated income statement?
A. $21,775 B. $14,516 C. $14,448 D. $0
A feasibility study involves ______.
a. a 5-year plan to scale the business b. at least 15 pages of appendices for investors to examine c. action, testing, information gathering, and analysis d. the creation of detailed financial projections and cash flow analysis
Which of the following statements about S.W.O.T. analysis is true?
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